Scan.com raises $220M to build the API layer for US medical imaging

Why it matters

Scan.com is financing a shift from booking marketplace to national healthcare infrastructure. The $130M debt component shows Bullock plans to acquire as well as integrate in a race to control imaging referrals.

Charlie Bullock's Scan.com raised $220 million in equity and debt financing, announcing on August 31st that it plans to expand a national network connecting patients, payers and independent imaging centers. Noteus Partners led the $90 million Series C, joined by Aviva, Concord Health Partners, YZR Capital and Oxford Capital. VerisFi Capital and Atempo Growth supplied another $130 million in debt facilities for acquisitions and working capital.

The headline figure needs unpacking. The Series C accounts for $90 million. The remaining $130 million, about 59% of the financing, is debt. Scan.com attached no valuation to the round.

That structure makes Bullock's next assignment clear. Scan.com has spent nine years moving from a consumer booking marketplace toward the infrastructure that employers, health plans, workers' compensation administrators and digital health platforms can use to order scans. Bullock now has acquisition capital to assemble additional pieces of that infrastructure rather than waiting to connect every provider individually.

Bullock entered medical imaging as the commercial and technical builder around a problem identified by clinicians. Scan.com's current account of its founding credits osteopath Jasper Nissim and consultant radiologist Dr. Khalid Latief with encountering the referral bottleneck in their own practices in 2017. They joined Bullock, Oliver Knight and Joe Daniels to connect patients with unused capacity at imaging centers.

Bullock was initially a healthcare outsider. He had previously founded graduate employment platform Kaampus, which was acquired by GradTouch in 2019, and later worked in strategy at travel and events startup Pollen. Bullock wrote in a Founders Factory essay that he started working on Scan.com during evenings alongside his full-time job, then committed after the early marketplace attracted demand.

From marketplace to imaging rails

The original Scan.com product helped individual patients find and book appointments. Bullock later pushed Scan.com toward a B2B2C model that could receive patients from insurers, doctors and telehealth providers without depending on consumer advertising. The financing announced Monday is backing the mature version of that pivot: Scan.com wants to sit between the organizations ordering scans and the centers performing them.

Scan.com's developer platform presents that workflow as three core API calls. A customer can search imaging providers by modality, location, insurance network and price, create an order, and retrieve a structured radiology report with a signed PDF. The platform also offers price estimates, patient communications, prior-authorization handling, document retrieval and status webhooks.

Scan.com says its software uses AI to match referrals against appointment availability, price and radiology subspecialty, while automating scheduling and paperwork. Human care guides remain involved with patients. The newly raised capital will fund further work on those routing and scheduling systems, which Scan.com describes as "agentic AI" infrastructure.

The API strategy addresses a basic coordination problem. Independent imaging centers may have open capacity, while patients elsewhere wait for appointments or end up at higher-priced hospital sites. A live network can route an order before the patient books, giving payers a chance to influence cost and appointment speed at the moment of referral.

Bullock summarizes the ambition through the two dominant US laboratory networks. "Labs got that decades ago with Quest Diagnostics and Labcorp. Imaging never did," he said in Scan.com's financing announcement.

Scan.com calls itself the largest US medical imaging network, a designation that has not been independently established. Scan.com has not put a current imaging-center count alongside the round. Its patient figure also requires context: Scan.com says over 900,000 patients have accessed the network globally, combining its older UK operation with its US expansion.

The revenue number is similarly specific in one respect and limited in others. Scan.com says revenue doubled over the past year to surpass a $165 million annualized run rate. An annualized run rate extrapolates recent performance and is different from audited annual revenue or subscription ARR. Scan.com did not identify the measurement period or revenue-recognition basis behind the figure.

The debt reveals a buy-and-build plan

Scan.com says the $130 million debt package will support acquisitions and working capital. That points to a buy-and-build phase in which Bullock can add provider relationships, regional reach or operating capabilities while continuing to develop the software layer.

The approach follows a fast US expansion. Scan.com entered Atlanta in February 2023. An Oxford Capital account of its $12 million Series A said the initial pilot had connected over 50 imaging centers and reached a $1 million annualized revenue rate during its first five weeks. Scan.com now says its operations are live nationwide.

Several investors in the Series C have watched that transition from the earlier marketplace. Aviva Ventures, YZR Capital and Oxford Capital co-led or participated in the 2023 Series A. Their return for the latest equity round gives Bullock continued backing from investors familiar with Scan.com's shift into US healthcare infrastructure.

The market is also consolidating around the same referral flow. On April 21st, 2026, Covera Health and Medmo announced their combination, claiming the resulting platform would manage diagnostic imaging for nearly 6 million Americans. Medmo focuses on getting patients through referrals and appointments, while Covera ranks imaging quality and routes members toward selected centers.

That pairing raises the stakes for Scan.com. Payer relationships, scheduling integrations and completed imaging orders produce the data needed to improve routing. Scale can therefore reinforce the product, provided Scan.com can keep appointment information current and return reports reliably across a growing network.

Debt increases the execution burden. Any acquired operation must fit into Scan.com's API, payer contracts and clinical workflow, while working-capital needs can rise as transaction volume grows. Bullock is taking on that complexity because the prize is larger than a booking marketplace: control of the ordering, routing and results layer through which imaging demand moves.

Scan.com says 98% of reports are delivered within 48 hours and appointment offers can be returned in under five minutes. Those service levels, along with pricing and imaging quality, will determine whether Bullock can make Scan.com the shared infrastructure he describes. The $220 million gives him the capital to expand quickly. The majority-debt structure also ensures that growth now has a clock attached.